> For the complete documentation index, see [llms.txt](https://docs.hourglass.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.hourglass.com/stable-early-access-program/faq.md).

# FAQ

**What is the Stable early access program?**\
The Stable early access program allows participants to deposit USDC on Ethereum into the dedicated pre-iUSDT vault ahead of Stable mainnet; when Stable is launched, users can withdraw to Stable via the authorized LayerZero bridge and receive iUSDT.

**Are vault shares transferable? Will there be secondary markets?**\
pre-iUSDT vault shares are not transferable, and no secondary markets are planned.

**What assets do users receive on Stable when withdrawing?**\
Users receive iUSDT on Stable.

**Do I need to KYC before depositing into the program?**\
No, users may deposit into the program before completing KYC. However, they must complete KYC by the deadline for their deposit to be marked eligible. 

**What happens if I don't complete KYC by the deadline?**\
If you deposited into the program and do not complete KYC by the deadline, your total deposit amount will remain marked as non-KYC. This means your deposits will not be considered eligible for participation, and you may, at any point, redeem your shares back for your original deposit in USDC. 

**Are there any fees?**\
No performance, minting, withdrawal, or managements fees are collected on deposits in this program. Users may incur gas fees related to on-chain contract interactions related to minting and redemption. 

**How are roles and controls handled?**\
Role separation limits who can marks users as KYC (admin role), deploy funds (treasury role), and withdraw on behalf of users (authorized bridge). Contracts are non-upgradeable.

**What if bridging is delayed or unavailable?**\
If bridging is unavailable, after 180 days the vault moves into permissionless recovery mode: KYC users redeem for a pro-rata share of USDT and any undeployed USDC in the KYC pool; non-KYC users redeem for USDC on Ethereum from the non-KYC pool.

**Where can audits and security practices be reviewed?**\
See [**Audits & Security**](/stable-early-access-program/audits-and-security.md) for the Zellic report, Olympix analysis, and ImmuneFi programs.